Signals and analysis OANDA:XAUUSD Gold price managed to settle Tuesday above the descending trendline resistance, then at 1,890$, as it moved away from multi-month troughs. Gold buyers now need acceptance above the 1,900$ round figure to take on the upward-sloping 200-Daily Moving Average (DMA) at 1,909$. A sustained move above the 200 DMA barrier will open...
Technical outlook OANDA:XAUUSD : In the near term, and according to the 4-hour chart, the falling EMAs lead lower, now providing dynamic resistance around $1920.30. The longer moving averages are still much higher than the shorter moving averages, while providing a downward slope, while technical indicators have bounced from intraday lows but are still in...
OANDA:XAUUSD Gold price reversed from the nine-week horizontal resistance and broke the two-week support line to convince the sellers. The downside in XAU/USD also takes cues from bearish signals from the Moving Average Convergence and Divergence (MACD) indicator and the descending Relative Strength Index (RSI), set at 14, which is not oversold. With this, Gold...
OANDA:XAUUSD Gold price does not work around 1960$ support turned resistance level including 100-DMA and 61.8% Fibonacci convergence in one day and one week. The possibility of XAU/USD breaking above the 1,960$ barrier combines with the upbeat sentiment and a pullback in the US Dollar to keep buyers hopeful of breaking the 1,970$ resistance confluence that...